Aviation

Bloomberg Richard Branson sold about $300 million in Virgin Galactic Holdings Inc stock, tapping his biggest listed asset again to prop up his business empire during the pandemic. The billionaire offloaded almost 10.5 million shares — about 4% of the space-travel company — through a company he controls, leaving him with an 18% stake, according to a regulatory filing. The ...

Bloomberg Sydney Airport said it’s prepared to hold discussions with suitors over a takeover offer of more than $16.8 billion as the company’s largest shareholder agitated for negotiations to start. The airport said it’s “open to engaging” with the bidders, led by IFM Investors, if they make an offer that reflects “long-term value.” At the same time, Sydney Airport rejected ...

Bloomberg The UK government lowered the cost of Covid tests provided by the National Health Service for international travel following criticism from the competition watchdog and the tourism industry. The cost of tests will be reduced to 68 pounds ($94.30) from 88 pounds for one test and to 136 pounds from 170 pounds for two, the UK’s Department for Health ...

Bloomberg TUI AG stopped burning cash as holiday bookings surged following European government moves to relax travel restrictions. The world’s biggest tour operator reported cash inflows during the three months through June of 320 million euros ($376 million), excluding financing costs, the first time it’s recorded a positive number since the onset of the Covid-19 pandemic. That’s after revenue surged ...

Bloomberg Airbus SE’s dedicated freighter is drawing interest from major cargo firms, after the European planemaker got board approval to launch the jet late last month. Airbus confirmed in late July its directors had signed off on a plan to produce a freighter version of the A350 jet by 2025, enabling it to counter rival Boeing Co’s dominance of the ...

Bloomberg Flag carrier PT Garuda Indonesia has shrunk its management to reduce costs as the airline restructures its way out of a pandemic-driven financial crunch. Garuda now has only six directors, removing the position of vice president director and merging services and business development director with commercial and cargo director, President Director Irfan Setiaputra said in a press conference after ...

Bloomberg India is set to allow Boeing Co’s 737 Max jets to resume flights in the country within days, according to a person familiar with the matter, clearing one of the last remaining hurdles for the US planemaker as it seeks to get the model flying again worldwide. The South Asian nation has been satisfied with the plane’s performance since ...

Bloomberg Just nine days after the UK granted vaccinated Americans quarantine-free entry, JetBlue Airways Corp is making its first foray into transatlantic service, starting flights on the world’s most lucrative air route—from New York’s John F Kennedy International Airport to London Heathrow—on Wednesday. It’s a long-awaited move for fans of the carrier, which has made its name offering affordable, friendly ...

Bloomberg The Boeing Co 737 Max jet that’s in China for a flight test for regulators took to the skies above Shanghai on Wednesday, potentially a step toward lifting the plane’s more than two-year grounding in the country. The jet took off at 9:24 am local time, flew southeast along the coast and then headed out to sea, according to ...

Bloomberg Cathay Pacific Airways Ltd’s first-half loss narrowed from a year earlier as the Hong Kong-based carrier slashed costs and cargo operations helped offset feeble passenger traffic. The airline reported a net loss of HK$7.6 billion ($977 million) in the six months through June, compared with a HK$9.9 billion deficit in the same half of 2020. Sales dropped 43% to ...